the staff of the Ridgewood blog
Ridgewood NJ, Attorney General Gurbir S. Grewal announced today that Wells Fargo has begun a consumer redress review program through which customers who have not already been made whole through other remediation programs can seek to have their inquiry or complaint reviewed by a Wells Fargo escalation team for possible relief.
The consumer redress review program was a key component of Wells Fargo’s overall $535 million settlement with New Jersey, 49 other states and the District of Columbia in 2018 to resolve claims that the bank violated state consumer protection laws through multiple unlawful actions.
Those actions included (1) opening millions of unauthorized accounts and enrolling customers into online banking services without their knowledge or consent, (2) improperly referring customers for enrollment in third-party renters and life insurance policies, (3) improperly charging auto loan customers for force-placed and unnecessary collateral protection insurance, (4) failing to ensure that customers received refunds of unearned premiums on certain optional auto finance guaranteed asset/auto protection (GAP) products, and (5) incorrectly charging customers for mortgage rate lock extension fees.
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